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Good show, Peter--
Thanks for setting the record straight. Mario Govea would be proud of you!
Keep the powder dry!
- Original Message -
From: "Peter D'Souza" <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Friday, October 29, 2004 2:22 PM
Subject: [Goanet]Re: A Must Read before you Vote (Tim de Mello)
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Tim de Mello wrote:
[EMAIL PROTECTED]:
"We should not forget that this administration inherited a
recession after
the technology bubble had burst and it was like handing Bush a
hand grenade
with the pin pulled out."
By the same token we should not forget that Clinton inherited an economy
that was already devasted by the Bush Sr. but managed to turn it around in
four years.
Tim, you're wrong. The economy had started to recover during Bush Sr.'s
last year in office. The third quarter growth rate of his last year in
office was 3.4%, a very respectable number. As for managing to turn it
around in four years--some credit is due to the fact that there was a
Republican-controlled House and Senate. Concerning Clinton turning around
a Bush Sr. economy in 4 years, Bush Jr. has acheived the same level of
unemployment that Clinton had achieved at the end of his first term--a
record which helped Clinton run his re-election on the theme of
prosperity.
Bush Jr. inherited a huge surplus (not a recession) - and yes there were
problems soon after he took over but he is no Clinton. Not even close. It
was just poor governance.
Poor governance? One particular quarter last year had an 8.9% growth in
GDP. The highest in 19 years. There have been several quarters in which
growth has been over 5%, and the average has been over 4%. If you know
anything about economics, you know that these are excellent figures. Home
ownership is at an all-time high. The "educational gap" has never been
narrower between minorities and the rest of the population. BTW, the
surplus peaked one month *before* Bush was elected and certainly didn't
pick up in the almost three months before he took office.
Nobody called Clinton a "moron" or "stupid" publicly.
Okay, perhaps they said that privately. People can be very civil
sometimes.
I just feel sorry for all the Americans who have lost their jobs because
of this administration. A bad economy in America negatively affects a
large part of the world.
Don't feel too sorry. Lost jobs *because* of this administration? Unless
the administration caused the attacks of September 11, which led to a loss
of one million jobs. The recession, which was inherited, also led to a
huge loss of jobs. Almost a million new jobs have been created by this
administration for every one of the last 14 months. Not a bad record, eh?
This may explain why more than 3/5ths of Americans say that they are
better off today than they were 4 years ago.
For those in India who may be not aware - being jobless in America is a
very miserable experience. Particularly in the cold months. For many the
choice is "to eat or to heat".
It can be miserable. The average "poor" American owns a 2-bedroom home,
three television sets, a car, and subscribes to cable TV. Talking about
being miserable, the misery index--a factor of unemployment and
inflation--is lower than it was when Clinton left office.
I hope the Americans do not vote Bush Jr. back into office.
I'm sorry that you want to bring a curse upon America.
Sincerely,
Peter D'Souza
